With less than 15 months to recapitalisation deadline, banks have stepped up preliminary consultations on the prospect of business combinations. The ongoing recapitalisation is heading down to more competitive capital raising ahead of the March 31, 2026 deadline, reports The Nation. As of the last count, only three banks have met the new capit...
•Nigerian Senate A major restructuring of the insurance industry is imminent with yesterday’s passage of a bill by the Senate to amend the laws and refocus the sub-sector in line with current realities. The bill, passed by the Red Chamber after considering the report of the Committee on Banking, Insurance and Other Financial Institutions, upgr...
Not less than five banks are rounding off preliminary documentation and approval processes to raise more than N1 trillion in the second cluster of the capital raising under the ongoing banking recapitalisation. Multiple sources yesterday confirmed that the banks have reached advanced stages in their pre-offer processes, with the two largest ba...
The next few weeks may be challenging for the managing directors of four banks, their management, and employees as strategic decisions needed to be made may not be according to their plans as regards their recapitalisation drive. Investigation by our correspondent reÂvealed that the banks are jittery following the decision of the Central Bank ...
•Central Bank of Nigeria Major banks are on course to raise N1.26 trillion in the capital market. It is in a bid to meet recapitalisation conditions set by the Central Bank of Nigeria (CBN), reports The Nation. Zenith Bank will today complete the pre-offer process for a N188.4 billion rights issue. FCMB Group will tomorrow […]
•CBN Governor Yemi Cardoso Ongoing bank recapitalisation will not be business as usual, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso said yesterday. He hinted that the conditions will be tough to ensure that all banks that scale the hurdles will be strong enough to withstand the headwinds, reports The Nation. The banks should be [&he...
•Comrade Olusoji Oluwole The Association of Senior Staff of Banks, Insurance and Financial Institution (ASSBIFI), has assured workers in the industry that their interest will be protected in the ongoing reÂcapitalisation benchmark recently prescribed by the Central Bank of Nigeria (CBN), adding that the union have taken steps to ensure that an...
The Central Bank of Nigeria has released a strong affirmation of the security of cash within Nigerian banks, highlighting the country’s banking sector’s soundness. Amid widespread unconfirmed rumours, not originating with the CBN, raising concerns about the health of Nigerian banks, the Central Bank of Nigeria asked the people not ...
•CBN Governor Yemi Cardoso No fewer than 17 out of the existing 24 Deposit Money Banks may be unable to meet the Central Bank of Nigeria’s capital requirement if it is increased from its current N25bn, according to a report by Ernst and Young. The new report, titled “Navigating the Horizon: Charting the Course for […]
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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